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Library Technical Assistant

Assistant Binder

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Research Officers x2

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Driver (Kariba)

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Freelance Sales/ Marketing Representatives [Kadoma x2, Kwekwe x2, Gweru x2, Chegutu x1 & Zvishavane x1]

Freelance Sales/ Marketing Representatives [Bulawayo x2, Hwange x1, Lupane x1, Gwanda x1, Vicfalls x1 & Beitbridge 1x]

Freelance Sales/ Marketing Representatives [Marondera x1, Murehwa x1, Mutoko x1, Bindura x1, Shamva x1 & Mvurwi x1]

Freelance Sales/ Marketing Representatives [Chinhoyi x2, Banket x1, Kariba x1, Karoi x1& Chirundu x1]

Freelance Sales/ Marketing Representatives [Harare x2, Chitungwiza x1, Norton x1, & Ruwa x1]

Auditor (Harare)

Digital Communications Officer (Harare)

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Director General (Harare)

Class One Journeyman Mechanic (Ruwa)

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Integrated HIV Care Nurse ( Harare)

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Business Development Specialis

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Trainee Aviation Security Officers x35

Geography: Relief teacher Up to “A” Level (3 months)

Teaching Vacancies

A leading financial services institution, <a href="https://www.pindula.co.zw/Stanbic_Bank_Zimbabwe">Stanbic Bank</a>, has adopted a growth strategy for the mining sector as it seeks to play a pivotal role in boosting the sector in line with Government targets.
Stanbic Bank CE, Solomon Nyanhongo told the Chamber of Mines dinner attendees that the institution was committed to finding lasting solutions toward consolidating growth drivers for the mining industry.
Nyanhongo said Stanbic’s core purpose was to champion Africa and in particular, Zimbabwe’s growth across key sectors including mining. ” Said Nyanhongo:
<blockquote>
Our institution has adopted a growth strategy for the sector cognizant of the fact that mining alone provides over 70% foreign currency receipts for the country. The strategy is premised on the realization that we need foreign currency for our economy to assist the nation achieve its goal of a medium-income earning economy.
Stanbic Bank is well placed to play a key role in achieving the aforementioned targets on the back of the strength obtained from its parent company, Standard Bank Group. Standard Bank Group recently participated at the just ended Mining Indaba in South Africa and as Stanbic Bank we piggy-back on its expertise to contribute meaningfully towards national development.
</blockquote>
He said given that the mining sector is <a href="https://news.pindula.co.zw/2022/06/03/zimbabwe-on-course-to-achieve-us12-billion-mining-industry-by-2023-minister/">targeting US$12 billion in annual revenue by 2023</a>, Stanbic Bank is geared to provide solutions to assist its clients to attain this.
He also noted that Stanbic Bank already has a significant role to play in the market and contributed over US$ 20 million in 2021 alone.
Nyanhongo added that Stanbic Bank’s capabilities add value to the mining sector supported by the knowledge, experience and insights – of industry experts.
The institution has mining specialists at the Group level and locally as well who help continuously monitor clients’ business activities to proffer solutions relevant to them.
He noted that mining is subject to global market volatilities, and it is imperative to rely on experts with their fingers on the pulse, taking a long-term view, while consistently monitoring trends in international commodity prices. He added:
<blockquote>
Over the 30 years that Stanbic Bank has operated in Zimbabwe, we have supported corporate entities and related ecosystem partners feeding into the sector. Some of the ways we have provided support is through expert advice to clients and also sponsorship of calendar events such as these, that bring together thought leaders in the industry.
</blockquote>
Nyanhongo said as much as Stanbic supports the mining sector, there are challenges which need the input of all stakeholders to overcome.
He added that Stanbic Bank’s “significant investments” are part of the institution’s thrust to address challenges in the mining sector. 
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed via <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">the App. Download it here</a></h2>

Pindula News

Stanbic Bank Adopts Mining Sector Growth Strategy

One of the most popular ways to get Pindula News is via our WhatsApp groups. Pindula has over 30,000 WhatsApp group members.
A common question we get from people is how they can advertise in those WhatsApp groups.
<h2>Here are the steps:</h2>
<h3>Step 1:</h3>
Register on Pindula Market and list your product or service. Here’s the address to do that: <a href="https://zero.pindula.co.zw/market/">https://zero.pindula.co.zw/market/</a> .  
This can be done for free and you can list as many products as you want. 
Once you’re registered, your product is immediately available to visitors of the Pindula News websites, <a href="https://play.google.com/store/apps/details?id=co.zw.pindula.news">Pindula Mobile app</a>, as well as other related websites.
<h3> </h3>
<h3>Step 2:</h3>
For your product to be advertised on our WhatsApp Groups, just open your product and click on the “boost” button.
To see a list of your product, just click on “Account” in the top right corner. On the next page, click on “My Products”.
 
<h3>Step 3:</h3>
Once you click “boost” you will see an option to advertise it to the Pindula WhatsApp groups. 
Click on that option and then click “Promote Product”.
You will then be able to pay for tyour advert via EcoCash.
 
That’s it, you done! Your advert will be show in our WhatsApp groups when the next set of news is distributed.
 
If you have any questions, please don’t hesitate to contact me on WhatsApp number +263772464000

How to Advertise & Grow Your Business using Pindula WhatsApp Groups

The <a href="https://www.pindula.co.zw/Zimbabwe_National_Statistics_Agency_(ZIMSTAT)">Zimbabwe National Statistics Agency (ZIMSTAT)</a> has announced that South Africa remained Zimbabwe’s major trading partner in April 2022.
<h2>Exports</h2>
The agency reported that in April 2022, exports to South Africa were 40.6% compared to 42.9% in March 2022.
Exports to the United Arab Emirates constituted 34.1% in April 2022 compared to 31.3% in March 2022. 
The value of exports to China increased to 9.9% in April 2022, from 5.9% in March the same year. 
Exports to Mozambique constituted 4.3% in April 2022 being a decline from 7.1% in March 2022.
The proportion of exports to Belgium was 1.2% in April 2022, compared to 2.1% in March 2022.
<h2>Imports</h2>
The proportion of imports from South Africa was 43.8% in April 2022, compared to 42.0% in March 2022. 
The proportion of the value of imports from Singapore increased to 16.4% in April 2022, compared to 12.6% in March 2022. 
Imports from China increased to 13.6% in April 2022 from 11.6% in March 2022. 
Other imports in 2022 came from Mozambique (2.8%), Mauritius (2.6%), India (2.4%), (United Emirates (1.4%), Zambia (2.6%), United Kingdom (1.2%) and United States (0.7%).
Economists say inflation in the geoeconomic arena also suggests that Zimbabwe is also importing inflation.
They urge the Southern African country to revive the local industry. 
Zimbabwe <a href="https://news.pindula.co.zw/2022/05/21/zimbabwe-remove-import-licences-requirement-for-7-commodities/">imports basic commodities</a> such as:
<ul>
<li>i). Rice;</li>
<li>ii). Flour,</li>
<li>iii). Cooking Oil</li>
<li>iv). Margarine;</li>
<li>v). Salt;</li>
<li>vi). Sugar;</li>
<li>vii). Maize meal;</li>
<li>viii). Milk Powder;</li>
<li>ix). Infants Milk Formula;</li>
<li>x). Tea,</li>
<li>xi). Petroleum Jelly;</li>
<li>xii). Toothpaste;</li>
<li>xiii). Bath Soap;</li>
<li>xiv). Laundry Bar; and</li>
<li>xv). Washing Powder.</li>
</ul>
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed via <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">the App. Download it here</a></h2>

South Africa Remains Zimbabwe’s Major Trading Partner - ZIMSTAT

The <a href="https://www.pindula.co.zw/Zimbabwe_National_Statistics_Agency_(ZIMSTAT)">Zimbabwe National Statistics Agency (ZIMSTAT)</a> has announced that the value of total exports in April 2022 was US$587.3 million, signifying an increase of 5.3% from total export earnings of US$557.6 million in March 2022.
The agency also announced that during the same period, imports decreased by 10.7% to US$637.2 million from US$713.8 million in March 2022.
ZIMSTAT produces the monthly summary of External Trade Statistics report using data on merchandise statistics from the <a href="https://www.pindula.co.zw/Zimbabwe_Revenue_Authority">Zimbabwe Revenue Authority (ZIMRA)</a> and secondary statistics from companies and trade organizations. In a report, seen by Pindula News, ZIMSTAT said:
<blockquote>
Data for April 2022 shows that Zimbabwe’s main exports were semi-manufactured gold (30.1%), nickel mattes including platinum group of minerals (PGMs) (22.8%), nickel ores and concentrates (14.7%), tobacco (11.5%), industrial diamonds (5.0%), ferrochromium (4.7%), platinum unwrought or in powder form (2.4%) and coke and semicoke (1.4%).
During the month of April 2022, the country exported 2 963 kilogrammes of semi-manufactured gold valued at US$176.9 million, compared to 2 200 kilogrammes valued at US$135.5 million in March 2022. In the same month of April 2022, the country exported 1,150.1 tonnes of nickel mattes valued at US$133.9 million, compared to 1,009.5 tonnes valued at US$110.2 million in March 2022. Besides the major minerals usually exported, Zimbabwe also exported 103 kilogrammes of industrial diamonds valued at US$29.2 million in April 2022, compared to 148 kilogrammes valued at US$45.2 million in March, 2021.
</blockquote>
ZIMSTAT added that Zimbabwe’s major imports remained mineral fuels and mineral oil products which stood at 22.1% in April 2022, compared to 17.1% in March 2022. 
This was followed by machinery and equipment at 13.1% in April 2022. 
Other imports in April 2022 included:
<blockquote>
a). vehicles (8.3%), 
b). electrical machinery (4.9%), 
c). plastics (4.5%), 
d). cereals mostly rice (3.6%), 
e). animal and vegetable oils and fats (2.8%), 
f). pharmaceuticals (2.7%), 
g). paper and paper products (1.9%), and 
h). fertilizers (1.6%). 
</blockquote>
According to the report, cereal imports increased from 1.7% in March 2022 to 3.6% in April 2022. Rice, which makes the bulk of cereal imports constituted 1.3% in March 2022 compared to 2.5% in April 2022. 
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed via <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">the App. Download it here</a></h2>

Zimbabwe: Value Of Exports In April 2022 Increases To US$587.3 million

<h2>Full statement by Grain Marketing Board (GMB) chief executive officer Rockie Mutenha on the control and sale of maize and soya beans.</h2>
1. The Grain Marketing Board (GMB) wishes to advise all farmers that maize, soya beans, wheat and barley are controlled products in terms of the following Statutory Instruments:
a. Statutory Instrument 145 -Grain Marketing (Control of Sale of Maize) Regulations, 2019.
b. Statutory Instrument 97-Grain Marketing (Control of Sale of Soya Beans) Regulations, 2021.
c. Statutory Instrument 188 – Grain Marketing (Control of Sale of Wheat and Barley) Regulations, 2021.
2. All farmers or producers of controlled grains are required to deliver the product to any nearest GMB depot. Farmers/producers who intend to retain a portion of the product for farm feed or other commercial usage shall apply for exemption from GMB.
3. No one is allowed to sell or buy maize and any controlled product other than through GMB unless one is a bona fide contractor registered with the Agricultural Marketing Authority of Zimbabwe (AMA).
4. All farmers, producers and contractors are required to apply for a movement permit where grains are being moved from one area to the other.
5. Trading in controlled products (buying or selling) without the authority of the GMB is an offence. All storers, millers, stock feeders and any other users of controlled products are required to register with the GMB before engaging in such business.
6. Grain Marketing Board shall be enforcing the above Statutory Instruments to ensure compliance. Those found in breach of the regulations risk prosecution, forfeiture of the grains and a fine three times the selling price of the controlled product.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

GMB Statement On The Sale Of Controlled Grains [Full Text]

The Grain Marketing Board (GMB) has warned farmers and producers of controlled grain such as maize, soybeans, wheat and barley that selling their produce to any buyer other than GMB is an offence.
In a statement on Wednesday, 1 June 2022, GMB chief executive officer Rockie Mutenha said all farmers or producers of controlled grains are required to deliver products to any nearest GMB depot. He said:
<blockquote>
Farmers/producers who intend to retain a portion of the product for farm feed or another commercial usage shall apply for exemption from GMB.
No one is allowed to sell or buy maize and any controlled product other than through GMB unless one is a bona fide contractor registered with the Agricultural Marketing Authority of Zimbabwe (AMA).
</blockquote>
Mutenha also said that all farmers, producers and contractors are required to apply for a movement permit if they want to move their grain from one area to another. Said Mutenha:
<blockquote>
Trading in controlled products (buying or selling) without the authority of the GMB is an offence.
All stores, millers, stock feeders and any other users of controlled products are required to register with the GMB before engaging in such business.
</blockquote>
<h4>More: <a href="https://www.sundaymail.co.zw/new-farmers-warned-on-illegal-grain-trading">The Sunday Mail</a></h4>

Farmers Ordered To Get GMB Exemption To Consume Their Grain

The Ministry of Finance and Economic Development has suspended the implementation of the new Statutory Instrument 103A of 2022 with effect from 1 June 2022.
The measures were issued by Finance and Economic Development Minister, Mthuli Ncube, last week to operationalise policy measures to block speculative trading in the market, especially in the equities and currency markets. SI 103A of 2022 read in part:
<blockquote>
Where a holder of a securities dealer’s licence receives funds in his or her trust account from a person (“non-client”) who is not registered with him or her as a client, the holder shall (whether or not the identity of the non-client is known to him or her) immediately report that fact to—the Financial Intelligence Unit (FIU) and the relevant exchange.
</blockquote>
However, in a public notice issued on 31 May 2022, Zimbabwe Stock Exchange Limited (ZSE) Chief Executive Officer Justin Bgoni said that the operationalisation of the regulations has been suspended.
Treasury informed the ZSE that there were errors in some parts of SI 103A of 2022 which they need to correct. Reads the notice:
<blockquote>
PUBLIC NOTICE SUSPENSION OF IMPLEMENTATION OF STATUTORY INSTRUMENT 103A of 2022
The Zimbabwe Stock Exchange Limited “ZSE” wishes to bring to the attention of stakeholders that the implementation of the new Statutory Instrument 103A of 2022 (Securities (Registration, Licensing and Corporate Governance) Rules, 2022 (No. 4)) has been suspended with effect from 1 June 2022 until further notice.
This suspension has been done at the instance of the Ministry of Finance and Economic Development, who undercover of a letter dated 31 May 2022, has informed the ZSE that there were errors in some parts of said statutory instrument which they need to correct.
Therefore, stakeholders are advised to operate on the basis of Statutory Instrument 72 of 2022: Securities (Registration, Licensing and Corporate Governance) (Amendment) Rules, 2022 (No. 3) until further notice.
However, kindly take note that trades executed between 27 and 31 May 2022 will be levied on the basis of SI 103A of 2022.
</blockquote>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Implementation Of SI 103A Of 2022 Suspended

The foreign exchange weighted average rate has fallen to US$1: ZWL$308.5201 from US$1: ZWL$290.8876 announced by the Reserve Bank of Zimbabwe (RBZ) last week.
At this week’s RBZ foreign currency auction conducted on Tuesday, 31 May 2022, a total of US$25.59 million was allotted.
The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
782 bids were received on the Small to Medium enterprises forex auction, with 723 accepted and 59 disqualified. The total number of bids allotted was 613.
On the main forex auction, a total of 285 bids were received, 263 were accepted and 22 were disqualified. The total number of bids allotted was 235.
The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
<table class="table table-bordered table-hover" id="table_1" style="width: 93.088%;">
<tbody>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.93">Number of Bids Received</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.93">
SMEFX89/2022
782
</td>
<td style="width: 81.6162%;" title="Character Accurarcy=99.97">
MAIN FX95/2022
285
</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.33">Number of Bids Disqualified :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.96">59</td>
<td style="width: 81.6162%;" title="Character Accurarcy=99.94">22</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.74">Total Number of Bids Accepted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.96">723</td>
<td style="width: 81.6162%;" title="Character Accurarcy=99.96">263</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.63">Total Number of Bids Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.94">613</td>
<td style="width: 81.6162%;" title="Character Accurarcy=99.94">235</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.7">Total Value of Bids Accepted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.43">USD5,135,841.87</td>
<td style="width: 81.6162%;" title="Character Accurarcy=98.49">USD23,947,063.37</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.33">Amount Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.04">USD4,425,590.12</td>
<td style="width: 81.6162%;" title="Character Accurarcy=98.61">USD21,165,154.67</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.98">Highest Rate Received</td>
<td style="width: 24.8485%;" title="Character Accurarcy=98.5">: 340.0000</td>
<td style="width: 81.6162%;" title="Character Accurarcy=99.7">340.0000</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.37">Lowest Bid Rate Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=98.84">290.0000</td>
<td style="width: 81.6162%;" title="Character Accurarcy=99.69">290.0000</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.12">Weighted Average Rate :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.79">308.5201</td>
</tr>
</tbody>
</table>
 
<table class="table table-bordered table-hover" id="table_2" style="width: 96.1212%; height: 340px;">
<tbody>
<tr>
<td title="Character Accurarcy=99.87">PURPOSE</td>
<td title="Character Accurarcy=99.32">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.18">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Raw Materials</td>
<td title="Character Accurarcy=99.83">1,074,866.64</td>
<td title="Character Accurarcy=99.67">11,077,620.25</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td title="Character Accurarcy=99.77">1,678,233.12</td>
<td title="Character Accurarcy=99.86">3,597,642.53</td>
</tr>
<tr>
<td title="Character Accurarcy=99.43">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.76">583,152.38</td>
<td title="Character Accurarcy=99.69">1,817,428.66</td>
</tr>
<tr>
<td title="Character Accurarcy=98.45">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.91">376,205.05</td>
<td title="Character Accurarcy=99.14">1,647,857.01</td>
</tr>
<tr>
<td title="Character Accurarcy=99.51">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.85">388,571.00</td>
<td title="Character Accurarcy=99.77">1,439,602.03</td>
</tr>
<tr>
<td title="Character Accurarcy=99.95">Electricity</td>
<td title="Character Accurarcy=99.85">16,187.13</td>
<td title="Character Accurarcy=99.52">0</td>
</tr>
<tr>
<td title="Character Accurarcy=99.71">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=98.86">193,117.15</td>
<td title="Character Accurarcy=99.89">954,924.90</td>
</tr>
<tr>
<td title="Character Accurarcy=99.89">Paper and Packaging</td>
<td title="Character Accurarcy=99.87">115,257.65</td>
<td title="Character Accurarcy=99.93">630,079.29</td>
</tr>
<tr>
<td title="Character Accurarcy=99.81">TOTAL</td>
<td title="Character Accurarcy=99.91">4,425,590.12</td>
<td title="Character Accurarcy=99.86">21,165,154.67</td>
</tr>
<tr>
<td title="Character Accurarcy=99.83">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=0"> </td>
<td title="Character Accurarcy=99.91">25,590,744.79</td>
</tr>
</tbody>
</table>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/FUF3DHEWQAIPHJk?format=jpg&amp;name=900x900"/>
<h4><a href="https://news.pindula.co.zw/">More: Pindula News</a></h4>

Zim Dollar Breaches $300 Mark At RBZ Forex Auction

Simbisa Brands has warned job-seekers of fraudsters who claim to be offering jobs in the company’s subsidiaries for a fee.
In a public notice, Simbisa Brands named one Mr Muchemwa, who claims to be Director of either Pizza Inn or Chicken Inn, as one of the fraudsters. The notice read:
<blockquote>
Simbisa Brands would like to advise members of the public that there are individuals making false promises of employment, in exchange for payment, purportedly on behalf of the business.
We have received reports of such incidences which involve job-seekers getting messages from a cell phone number 0786713607 or from a purported Mr Muchemwa, who claims to be Director of either Pizza Inn or Chicken Inn.
In the interests of protecting the public, Simbisa Brands has reported the misrepresentation to the Police and we encourage any members of the public who encounter such offers to also do the same.
As a matter of policy, Simbisa Brands will never request applicants to make any form of payment to business either directly or through third parties in exchange for employment.
</blockquote>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Simbisa Brands Warns About Fraudsters Preying On Job-seekers

Ponzi schemes have resurfaced, prompting the Securities and Exchange Commission of Zimbabwe (SecZim) to warn that they threaten an already fragile economy. 
Investopedia defines a Ponzi scheme as a fraudulent investing scam which generates returns for earlier investors with money taken from later investors. This is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers.
SecZim acting chief executive Gerald Dzangare <a href="https://www.newsday.co.zw/2022/05/ponzi-schemes-resurface/">told NewsDay</a> at a workshop in Kariba last Friday that members of the public need to be very careful. Dzangare said:
<blockquote>
One of the most painful things that have happened in our country is these ponzi schemes. People have lost money to these unregistered asset managers who collect it claiming that they will invest it to make it multiply within a month. These people then disappear. 
Millions of dollars were lost; some lost houses while others committed suicide upon discovering they would have been duped. We have handled suicide cases related to ponzi schemes.
</blockquote>
He said the fraudsters, who operate Ponzi schemes, were not registered with SecZim.
Last year, police reported that <a href="https://news.pindula.co.zw/2021/11/08/10-000-people-lose-us32-million-in-ponzi-schemes/">“at least 10 000 complainants lost over US$30 million”</a> to Ponzi scheme dealers.
The police in the same year handled 892 cases involving thousands of complainants whereby the scammers had disappeared after swindling unsuspecting investors.
Ponzi scammers involve the sale of products or distributorships in an attempt to show legitimacy. This is done to sidestep regulatory agencies.
In Zimbabwe, the history of Ponzi schemes dates back to the 1990s, when the Russian MMM Global scheme was revived in Bulawayo and quickly spread throughout the country.
In 2016, the Reserve Bank of Zimbabwe pointed out that MMM Global Zimbabwe was the biggest pyramid scheme that duped many investors in the country.
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Ponzi Schemes Resurface In Zimbabwe

President <a href="https://www.pindula.co.zw/Emmerson_Mnangagwa">Emmerson Mnangagwa</a> has said the shortage of electricity in the country was a sign of growing mining and industrialisation in the economy.
 The <a href="https://www.pindula.co.zw/ZESA">Zimbabwe Electricity Supply Authority (ZESA)</a> says the country’s generation capacity decreased due to ageing equipment at the power generators – <a href="https://www.pindula.co.zw/Hwange_Power_Station">Hwange Thermal Power Station</a>, and <a href="https://www.pindula.co.zw/Kariba_South_Power_Station">Kariba Hydropower Station</a>.
The power utility also said importation was restricted since the country owes huge monies to regional power utilities, including ESKOM of South Africa and Hydro Cahorra Basa of Mozambique.

<ul>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/03/22/power-situation-to-improve-as-zesa-cuts-eskom-debt-energy-minister/">“Power Situation To Improve As ZESA Cuts ESKOM Debt” – Energy Minister</a></li>
</ul>
Writing in his weekly column, President Mnangagwa said he was satisfied that the nation was ready for a massive expansion in thermal power production: 
<blockquote>
This year, I went back to commission Deka water pipeline which feeds into Hwange 7 and 8.
We are set on launching Generator 7 towards end of this year, possibly in November, and Generator 8 early next year, possibly in February.
All told, we will have some 600 megawatts added onto our grid, thus helping Zesa meet part of the ever-rising demand for more power.
One accurate way of measuring the pulse of an economy is through power consumption, especially by corporates.
This means there is a bright side to the power backlog: it points to growing mining and industrialisation in the economy, and thus an expanding mining and manufacturing sector.
This in turn creates more, better quality jobs, especially for our youths.
</blockquote>
He further revealed that the Government was also working on upgrading small thermal stations in Bulawayo, using the Indian capital.
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"There Is A Bright Side To The Electricity Crisis" - President Mnangagwa

Treasury has promulgated new regulations to operationalise the Government’s directive on tighter conditions for the trading of stocks on the Zimbabwe Stock Exchange (ZSE).
The government recently said it had identified loopholes in sub-systems of the ZSE believed to be part of activities fuelling parallel market activities.
<a href="https://www.chronicle.co.zw/treasury-gazettes-new-stock-trading-laws-move-to-curb-speculative-forex-trading/">The Chronicle reports</a> that deficiencies in the systems allowed clients to sell shares and transfer the proceeds to third parties for speculative trading in forex.
Finance and Economic Development Minister, Professor Mthuli Ncube, issued Statutory Instrument (SI) 103A last week to operationalise policy measures to stymie speculative trading in the market, especially in the equities and currency markets. The SI reads:
<blockquote>
Where a holder of a securities dealer’s licence receives funds in his or her trust account from a person (“non-client”) who is not registered with him or her as a client, the holder shall (whether or not the identity of the non-client is known to him or her) immediately report that fact to—the Financial Intelligence Unit (FIU) and the relevant exchange.
In accordance with the instructions of the FIU— retain the funds pending forfeiture proceedings if the FIU informs the holder that there is a reasonable suspicion that the funds represent the proceeds of a serious offence as defined in the Money Laundering &amp; Proceeds of Crime [Chapter 9:24]
Or return the funds to the non-client if the FIU informs the holder that there is no such suspicion as is mentioned in sub-paragraph (ii).
A holder of a securities dealer’s licence shall not transfer funds from one trading account to another (whether or not such funds are routed through the holder’s trust account, and whether or not the holder is instructed by any of his or her registered clients to do so), unless the transfer is to a trading account belonging to the same registered client
</blockquote>
The move is aimed at clipping rogue brokers that were allegedly involved in third-party funding of accounts.
<h2>The new regulations also:</h2>
<blockquote>
a). require that whenever money deposited in the trust account of a holder of a securities dealer’s licence becomes payable to any registered client, the holder shall pay the money within the trading and payment times prescribed by the relevant authority to the registered client entitled to it and to not any other person. 
b). reviewed capital gains tax on shares held for a period not exceeding 270 days to 4 percent in line with the individual maximum marginal tax rate for Pay as You Earn (PAYE). It was previously pegged at 2 per cent and was seen as not deterrent enough to discourage speculative trading in shares.
c). maintained capital gains tax at 2 per cent for long term investors beyond 270 days.
</blockquote>
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed via <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">the App. Download it here</a></h2>

New Rules Promulgated To Tighten Conditions For Trading Stocks On ZSE

Renowned economic commentators, Gift Mugano and Anthony Hawkins have urged the Government to accept that the Zimbabwe dollar has been rejected by the market and re-dollarise the economy.
This comes as annual inflation rose to 131.7% in May, from 96% in April, according to the Zimbabwe National Statistics Agency (ZimStat).
The local currency has also depreciated against the United States dollar on the official market, falling to US$1:$290 by Tuesday, compared to US$1:$258 the previous week.
Mugano projected that the domestic currency will dead by June this year, adding that the Government itself is rejecting the Zimdollar and has opted for the US dollar. Said Mugano:
<blockquote>
We are increasing our debt and we won’t be able to defend our currency. Even the government does not want to use its own currency.
It paid bonuses in US dollars, it is paying COVID-19 allowances in US dollars, and tollgates are now paid in US dollars.
We are not qualified to fight for the Zimbabwe dollar because the government itself wants the USD.
In fact, the market has dollarised, we are at a funeral, and we are going to the grave to bury the Zimbabwe dollar.
</blockquote>
Mugano said when the country de-dollarised in 2019, after a decade of a multi-currency system, the economy was not ready for the local currency. He said:
<blockquote>
The strength of the currency is reflected in its productive capacity. You do not go and support the local currency at a rally and campaign for it, you need production.
The second aspect is you must have fiscal consolidation. You must not have debt because when you have a growing debt then you also have vulnerabilities in the economy when the currency is attacked.
</blockquote>
Hawkins argued that dollarisation would be painful but it is the only way to tame runaway inflation. He said:
<blockquote>
The public doesn’t want to hold the Zim dollar. Yes, dollarisation would be painful, no doubt. But will it be more painful than an inflation rate of 400%?
The opponents of dollarisation will tell you that this is because saboteurs are destroying the local currency. That is not the case.
People are acting rationally, they are trying to protect their livelihoods, they are trying to protect their pensions, and they are trying to protect their savings from the predatory policies that are being followed at the moment.
The exchange rate is a reflection of what is happening in the economy.
</blockquote>
Another economist Persistence Gwanyanya, however, warned against full dollarisation. He said:
<blockquote>
Every one of us would want some dollars in his pocket now and every business may want to have the economy dollarised, but it is not the most effective currency option.
Dollarisation is costly. The Justice Smith Commission established that we need to compensate about $5 billion for the loss that occurred in 2009.
Right now we have got about $277 billion in the accounts. When we dollarise we need to first convert all those into US dollars or people will have to lose that.
</blockquote>
<h4>More: <a href="https://www.newsday.co.zw/2022/05/zimdollar-dead-by-next-month/">NewsDay</a></h4>

"Zimbabwe Dollar Dead By June"

Reserve Bank of Zimbabwe (RBZ) Governor, John Mangudya, said that the Financial Intelligence Unit (FIU) is investigating individuals and companies who are putting money on the black market resulting in the depreciation of the local currency, the Zimbabwe Dollar.
He made the remarks while delivering a public lecture at Manicaland State University of Applied Sciences last Friday. Said Mangudya:
<blockquote>
Money is the root cause of all evil. Exchange rates are being manipulated because people have money.
That is why the exchange rate rapidly moves from US$1:ZWL200 to US$1:ZWL300 and then to US$1:ZWL400 within a short space of time.
Each day I try to figure out where the money doing rounds on the parallel market is coming from and we now know what is happening.
That is why we had to temporarily stop banks from lending money.
We wanted to see the real culprits pouring money into the parallel market. We monitor the banks to ensure that they have the right systems.
Although the real people who put money on the parallel market are not easy to dictate as they use third parties to do so, our Financial Intelligence Unit is working day and night to flash out these culprits.
Very soon we will expose all their activities and bring them to book.
Our country has a lot of people with delinquent behaviour and I have been wondering where this is coming from and have concluded that our past experiences are now shaping people’s behaviour.
But then we can’t continue living in the past. Let us move forward and build our economy.
</blockquote>
Mangudya said the suspension of duty on selected basic grocery items is to ensure the availability of the products at affordable prices. He said:
<blockquote>
Opening the borders ensures competition in the market.
Local retailers were increasing prices willy-nilly and we decided to open the borders to ensure the availability of the products and price stability.
If we have more goods on the market, there will be price stability.
</blockquote>
The central bank governor also said rising inflation was partly caused by global events as well as drought during the 2021/22 season. He said:
<blockquote>
Inflation is going up in every country and Zimbabwe cannot go against the grain. The growth of this economy is related to drought or weather patterns.
When there is drought, the economy goes down, when we receive good rains, the economy goes up.
We expect people to grow more wheat this year so that the economy can continue to grow.
</blockquote>
<h4>More: <a href="https://www.manicapost.co.zw/dollarisation-was-our-greatest-mistake/">The Manica Post</a></h4>

Mangudya: Money Is The Root Cause Of All Evil

A fuel crisis is looming in Zimbabwe as major dealers say they are struggling to stock up because of foreign currency shortages.
Fuel dealers say they may be forced to cease operations as the country is under a foreign currency crisis.
<a href="https://www.newsday.co.zw/2022/05/panic-as-fuel-shortages-loom/">NewsDay Zimbabwe</a> says some of the major fuel players reportedly facing serious challenges are Total, Engen, Puma, Zuva and Glow Petroleum.
The publication was told that the forex shortages are causing delays in making telegraphic transfers (TTs) for fuel purchases.
This has given rise to corruption as smaller fuel players under the Direct Fuel Import (DFI) Group and fuel smugglers are now taking advantage of the situation.
One chief executive of a major fuel dealer, who refused to be named, said: 
<blockquote>
We are failing to quickly import fuel because our TTs take forever to get cleared, and the fuel prices keep changing every week. We were struggling when we sold fuel in local currency and had to wait for the <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe</a> to give us foreign currency.
At that time, we went for weeks without fuel, yet we had to pay rent and our staff. That is the reason Caltex, Shell and Mobil left this country. We are in trouble.
</blockquote>
Energy ministry secretary <a href="https://www.pindula.co.zw/Gloria_Magombo">Gloria Magombo</a> said her office was investigating the matter. She said:
<blockquote>
We would need to understand why there are these frequent stock-outs together with the Zimbabwe Energy Regulatory Authority (ZERA), and thereafter, I can give you a comprehensive report.
</blockquote>
The smaller indigenous fuel players under the DFI Group are said to be paying hard cash upfront for supplies.
DFI Group secretary-general Bart Mukucha said fuel supply routes had largely remained normal despite the war in Ukraine. He said:
<blockquote>
The Zimbabwe forex auction had no money from the beginning and doesn’t create money. It only allocates the little that’s there. We find money elsewhere and our plan is to get funding from the diaspora. We then convert it to fuel.
</blockquote>
He said DFI also had credit lines.
Meanwhile, in its weekly report, the Zimbabwe Coalition on Debt and Development (Zimcodd) said the local currency market for fuel was now extinct as the fuel sector had fully dollarised.
Reports of<a href="https://news.pindula.co.zw/2022/05/26/police-arrest-3-fuel-tanker-drivers-for-smuggling-50-000l-of-diesel/"> fuel smuggling</a> have been increasing lately.
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Fuel Crisis Looms As Foreign Currency Shortages Intensify

Zimbabwe’s <a href="https://www.pindula.co.zw/Ministry_of_Industry_and_Commerce">Ministry of Industry and Commerce</a> has appointed EAA Company Limited (EAA) as an inspection company for a Pre-shipment Verification of Conformity (PVoC) program for the roadworthiness of used vehicles coming to Zimbabwe
The majority of vehicles imported into Zimbabwe are from Japan, the UK, Singapore, UAE and other Global origins.
The verification program is in effect from the 1st of June 2022 with fees for inspection varying depending on the origin of the vehicle. The fee is on top of duty.
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<h3 class="ea-header"><a aria-expanded="true" data-sptarget="#collapse98013" data-sptoggle="spcollapse" href="https://www.eaa-s.jp/en/zimbabwe-rwi/">Inspection fees (inclusive of tax) are as follows:</a></h3>
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<div class="ea-body animated fadeIn">
<blockquote>
• Japan = USD$140 
• Singapore = USD$140 
• UAE = USD$140 
• UK = USD$200 
• South Africa = USD$140
</blockquote>
</div>
</div>
</div>
</div>
</div>
EAA, a Company of Japanese origin with a core business of pre-shipment inspection of motor vehicles says all used vehicles arriving in Zimbabwe will require an EAA certificate of conformity (COC) to comply with import regulations on arrival at the Zimbabwe border (unless shipping documentation verifies the vehicle was shipped prior to the inspection commencement date of 1st of June 2022).
EAA adds that pre-shipment inspections will commence in the following countries from the 1st of June 2022: 
<blockquote>
i). Japan, 
ii). The United Kingdom, 
iii). Singapore, 
iv). South Africa and 
v). United Arab Emirates.
</blockquote>
<h3 class="ea-header"><a aria-expanded="true" data-sptarget="#collapse98011" data-sptoggle="spcollapse" href="https://www.eaa-s.jp/en/zimbabwe-rwi/">Important factors of the Zimbabwe pre-export roadworthiness inspection</a></h3>
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<div class="ea-body animated fadeIn">
<blockquote>
• The vehicle (or used vehicle spare parts) must pass the mandated roadworthiness inspection. 
• There is a 10 year age restriction applied for used vehicle imports into Zimbabwe (passenger cars and light commercials under 5 ton).  Commercial vehicles 5 ton plus have no age restriction. 
• Right-hand drive vehicles can be imported. 
• Not to be considered a mechanical inspection. 
• Should the pre-shipment inspection not be completed prior to the vehicle export, MIC will impose a penalty of 15% of the CIF value of the vehicle, in addition to the full cost of an inspection in Zimbabwe. 
• Vehicles detected with odometer tampering will be rejected and cannot be imported into Zimbabwe.
</blockquote>
</div>
<h3 class="ea-header"><a aria-expanded="true" data-sptarget="#collapse98012" data-sptoggle="spcollapse" href="https://www.eaa-s.jp/en/zimbabwe-rwi/">Application and inspection procedure</a></h3>
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<div class="ea-body animated fadeIn">
<blockquote>
1. Please send an “EAA Application form for (Zimbabwe Only)” to us by Email or Fax 
2. Please ensure to attach a copy of the Export Certificate of your vehicle. (Please note that the inspection cannot be conducted when there is no Export Certificate). 
3. EAA will issue an invoice and email or fax it to you by return. 
4. EAA will confirm the inspection place, the vehicle details, and the date of inspection booking via telephone or fax, once payment is confirmed. 
5. After the inspection is completed and the vehicle is passed, EAA will send the inspection certificate to the Exporter. You may also confirm inspection details at the following E-Cert URL by the input of your vehicle chassis number.
</blockquote>
</div>
</div>
</div>
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LATEST: All Used Vehicles Arriving In Zimbabwe Require An EAA Certificate

Zimbabwe’s annual inflation has broken a three-digit barrier after jumping to 131 per cent in May due to the massive depreciation of the local currency and runaway price increases.
<a href="https://www.zimlive.com/2022/05/25/zimbabwes-inflation-breaks-3-digit-barrier-again-worst-in-a-year/">ZimLive reports</a> that a Wednesday <a href="https://www.pindula.co.zw/Zimbabwe_National_Statistics_Agency_(ZIMSTAT)">Zimbabwe National Statistics Agency (ZIMSTAT)</a> report says annual inflation stood at 96.4 per cent in April before the return to triple-digit inflation. Month-on-month inflation was 8.7 per cent in May from 9.6 in April.
ZimLive reports that Zimbabwe had triple-digit inflation was Jun 2021 when it stood at 106.6 per cent.
The government blames inflation and depreciation of the local currency in the last month on “saboteurs” while critics attribute the crisis to maladministration.
This is happening when labour unions are demanding salary increases after watching their pay being eroded by the high cost of living.
Former Finance Minister, <a href="https://www.pindula.co.zw/Tendai_Biti">Tendai Biti,</a> questioned ZIMSTAT figures and referred to an International Monetary Fund (IMF) report on Zimbabwe released on April 8 last month. He said:
<blockquote>
The IMF says our inflation in 2020 was 837 percent. The IMF also says our economy shrunk by 11.7 percent in 2020 and uses the words ‘Zimbabwe has been a deep recession.
Now, what’s happening in 2022 is nothing compared to 2020. Things are terrible. Fuel, cooking oil, sugar, meat – just about everything has gone up. Prices are raping our people and I reckon in the last two weeks alone inflation has gone above 80 percent. Now, once you have month-on-month inflation of 80 percent, then you have hyperinflation.
</blockquote>
He added that based on IMF figures, Zimbabwe’s inflation is going to be 1 000 and the country will probably have another 2008 when the country recorded a record high hyperinflation of 231 million per cent, as per official statistics. 
Finance Minister Mthuli Ncube has projected the economy to grow 5.5 per cent and inflation to end the year at around 35 per cent.
Analysts urge the government to ditch the Zimbabwe dollar which was re-introduced in 2019 and dollarise, but the government maintains that this option is not o the table.
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Zimbabwe's Inflation Returns To Three-Digit Inflation, Biti Says It Will Reach 1 000

Africa’s richest man and Nigerian billionaire industrialist Aliko Dangote’s net worth dropped by $157 million in a single day as his wealth was valued at less than $21 billion.
According to the Bloomberg Billionaires Index, Dangote’s net worth has dropped from more than $21 billion at the start of business yesterday to $20.9 billion, <a href="https://billionaires.africa/aliko-dangote-suffers-157-million-loss-in-single-day-as-dangote-cement-stock-falls/">African Billionaires report.</a>
Dangote is the founder of Dangote Industries Limited, a Nigerian conglomerate with diverse interests.
The decrease in Dangote’s net worth can be linked to a drop in the value of his 86-per cent stake in Dangote Cement, as the company’s share price declined on the Nigerian Exchange.
Dangote Cement shares have fallen from an all-time high of N300 ($0.72) at the start of trading on the local bourse on Tuesday to N297 ($0.66) at the time of writing this report.
The recent share price decline follows the Central Bank of Nigeria’s decision to raise the benchmark interest rate to 13 per cent after two years of expansionary monetary policy.
The rate, which had been locked in at 11.5 per cent since September 2020 as the Central Bank sought to spur recovery from the recession caused by COVID-19, has now been raised by the apex bank after the country’s inflation rate surpassed 16 per cent.
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Aliko Dangote's Net worth Drops By $157 Million In One Day

South African billionaire Patrice Motsepe has surpassed Zimbabwean billionaire, <a href="https://www.pindula.co.zw/Strive_Masiyiwa">Strive Masiyiwa</a> to become the richest Black businessman in Southern Africa, with a net worth of US$3.1 billion, while Masiyiwa’s net worth fell to US$2.7 billion.
The development comes after Masiyiwa has lost over half a billion dollars as a result of a drop in the value of his stake in <a href="https://www.pindula.co.zw/Econet_Wireless_Zimbabwe">Econet Wireless Zimbabwe (Econet Zimbabwe)</a> on the <a href="https://www.pindula.co.zw/Zimbabwe_Stock_Exchange">Zimbabwe Stock Exchange (ZSE)</a> in less than a month.
This is happening not long after Masiyiwa’s net worth <a href="https://news.pindula.co.zw/2022/04/29/econet-founder-masiyiwa-overtakes-patrice-motsepe-becomes-richest-black-man-in-southern-africa/">rose by US$1.7-billion above the US$4-billion mark earlier</a> this year.
<a href="https://billionaires.africa/zimbabwean-billionaire-strive-masiyiwa-loses-over-620-million-as-econet-shares-slump/">Billionaires Africa reports</a> that the market value of Masiyiwa’s stake in Econet Zimbabwe dropped by $201 billion (US$624.2 million) in the past 28 days due to a sustained sell-off of shares on the<a href="https://www.pindula.co.zw/Zimbabwe_Stock_Exchange"> Zimbabwe Stock Exchange (ZSE).</a>
Masiyiwa owns a 52.85-per cent equity position in Econet Zimbabwe, which is part of Econet Group, a 22-year-old diversified telecom company with operations and investments in Africa, Europe, South America, and East Asia.
The trend:
<blockquote>
a). Econet’s share price reached an all-time high of $331.72 (US$1.03) on April 27, 
b). the share price began to drop by more than 44 per cent to $184.88 (US$0.57415).
c). The market value of Masiyiwa’s shareholding fell from $454.1 billion (US$1.41 billion) on April 27 to $253.1 million (US$785.9 million). As a result, the leading billionaire has lost $201 billion (US$624.2 million) in the past 28 days.
</blockquote>
Despite the recent drop in the value of its shares, Econet Zimbabwe remains the most valuable stock on the ZSE, with a market capitalization of $479 billion (US$1.48 billion), accounting for about 16.1 per cent of the total capitalization on the bourse.
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Motsepe Now Richest Black Person In Southern Africa As Masiyiwa Loses Over Half A Billion USDs

The Bulawayo High Court last week reserved judgment in a case involving former Vice-President <a href="https://www.pindula.co.zw/Phelekezela_Mphoko">Phelekezela Mphoko</a> and his son, Siqokoqela who are suing <a href="https://www.pindula.co.zw/Choppies_Zimbabwe">Choppies Enterprises</a> over a 51% Choppies share stake they lost.
The Mphokos sued Nanavac Investments Pty Ltd, Choppies Enterprises and Choppies Distribution Centre (Proprietary) Limited in Gaborone, Botswana demanding payment for the 51% shares they held before they were unlawfully denied of their entire shareholding by the company.
Mphoko’s lawyer Zibusiso Ncube told <a href="https://www.newsday.co.zw/2022/05/high-court-reserves-judgment-on-mphoko-choppies-case/">NewsDay</a> on Tuesday that the matter was heard last Thursday when the parties made their oral arguments. 
He said the matter was heard before Bulawayo High Court judge, Justice Martin Makonese.
 It emerged in 2019 that the Mphokos allegedly <a href="https://news.pindula.co.zw/2019/06/06/former-vp-mphoko-misled-govt-on-his-shares-at-choppies/">helped Choppies bypass provisions</a> of <a href="https://www.pindula.co.zw/Indigenisation_and_Economic_Empowerment_in_Zimbabwe">Zimbabwe’s Indigenisation Act</a> through their ownership of shares.
In a letter addressed to Mphoko when the fallout started, former Botswana President Festus Mogae who is Choppies former chairperson wrote: 
<blockquote>
…My brother (Mphoko), I would like to bring the following facts to your attention: We entered into this partnership with a clear understanding of the shareholding of 93% to Choppies Enterprise and 7% to the Mphoko family, free of charge.
</blockquote>
But the Mphokos denied the 7% shares saying they were the majority shareholders in terms of Zimbabwe’s Indigenisation Act laws which stated that locals should have 51% shares if they partner with foreign-owned companies.
Indications are that the former VP held 25.5% shares, while Siqokoqela also held 25.5% shares in a joint venture identified as Nanavac Investments Pty ltd, and Choppies Enterprises held the remaining 49%.
<h2>What transpired:</h2>
<blockquote>
a). The Mphokos’ lawyer said about 2018, a dispute arose between Siqokoqela and Choppies resulting in Choppies instituting legal proceedings against him and his wife at the High Court.
b). On January 9, 2019, in order to secure their freedom, Siqokoqela signed a deed of settlement with Choppies Enterprises in terms of which the Mphokos disposed of their shareholding in the company.
c). As per the deed of settlement, the Mphokos were to be paid US$2.9 million by Choppies. 
d). The lawyer added that the deed of settlement was void as the Mphokos signed it under duress after the arrest and detention of Siqokoqela and his wife on malicious and false charges, and unlawful stoppage of his salary.
e). Mphoko said he signed the deed of settlement fearing the continued persecution of his son and his daughter-in-law at the hands of the company.
f). They said Choppies paid the sum of US$2.9m representing about 7% of the shareholding in local currency when the shareholding was purportedly being acquired by a foreign entity in terms of the shareholders’ agreement of July 24, 2013.
</blockquote>
The Mphokos want the court to declare the deed of settlement unlawful through which they were dispossessed of their entire shareholding in Choppies.
They also want US$22 585 714, as the true value of their 51% shareholding in Choppies.
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</div>

Update On Former VP Mphoko's Choppies Case

The Zimbabwe dollar has lost further ground against the US dollar at the Reserve Bank of Zimbabwe (RBZ) foreign currency auction conducted on Tuesday, 24 May 2022.
This week, the foreign exchange weighted average rate fell to US$1: ZWL$290.8876 from US$1: ZWL$258.5404 announced by the central bank last week.
At this week’s forex auction a total of US$25.04 million was allotted. The bulk of the allotment went to raw materials followed by machinery and equipment, the same as last week.
1 044 bids were received on the Small to Medium enterprises forex auction, with 989 accepted and 55 disqualified. The total number of bids allotted was 484.
On the main forex auction, a total of 381 bids were received, 339 were accepted and 42 were disqualified. The total number of bids allotted was 206.
The RBZ said bids with overdue CDIs, outstanding Bills of Entry (BOEs), insufficient ZWL and those with sufficient FCA balances were also disqualified.
Some bids were also allotted on a pro-rata basis.
<table class="table table-bordered table-hover" id="table_1" style="width: 96.4818%;">
<tbody>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.34">Number of Bids Received :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.94">
SMEFX89/2022
1044
</td>
<td style="width: 87.2727%;" title="Character Accurarcy=99.68">
MAIN FX95/2022
381
</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.62">Number of Bids Disqualified :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.96">55</td>
<td style="width: 87.2727%;" title="Character Accurarcy=99.93">42</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.65">Total Number of Bids Accepted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.98">989</td>
<td style="width: 87.2727%;" title="Character Accurarcy=99.96">339</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.3">Total Number of Bids Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.94">484</td>
<td style="width: 87.2727%;" title="Character Accurarcy=99.97">206</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.36">Total Value of Bids Accepted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=98.58">USD8,684,002.68</td>
<td style="width: 87.2727%;" title="Character Accurarcy=98.78">USD32,941,798.21</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.39">Amount Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=98.87">USD4,423,085.55</td>
<td style="width: 87.2727%;" title="Character Accurarcy=99.14">USD20,624,665.87</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.97">Highest Rate Received</td>
<td style="width: 24.8485%;" title="Character Accurarcy=98.12">: 330.0000</td>
<td style="width: 87.2727%;" title="Character Accurarcy=99.61">330.5200</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.57">Lowest Bid Rate Allotted :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.74">280.0000</td>
<td style="width: 87.2727%;" title="Character Accurarcy=99.3">280.0000</td>
</tr>
<tr>
<td style="width: 46.6667%;" title="Character Accurarcy=99.49">Weighted Average Rate :</td>
<td style="width: 24.8485%;" title="Character Accurarcy=99.85">290.8876</td>
</tr>
</tbody>
</table>
 
<table class="table table-bordered table-hover" id="table_2" style="width: 96.1212%; height: 341px;">
<tbody>
<tr>
<td title="Character Accurarcy=99.8">PURPOSE</td>
<td title="Character Accurarcy=99.01">AMOUNT ALLOTTED SME AUCTION</td>
<td title="Character Accurarcy=99.54">AMOUNT ALLOTTED MAIN AUCTION</td>
</tr>
<tr>
<td title="Character Accurarcy=99.94">Raw Materials</td>
<td title="Character Accurarcy=99.78">1,243,402.30</td>
<td title="Character Accurarcy=99.84">10,659,453.77</td>
</tr>
<tr>
<td title="Character Accurarcy=99.97">Machinery and Equipment</td>
<td title="Character Accurarcy=99.86">1,686,880.11</td>
<td title="Character Accurarcy=99.91">5,004,038.83</td>
</tr>
<tr>
<td title="Character Accurarcy=99.48">Consumables (Incl. Spares, Tyres, Electricals, etc)</td>
<td title="Character Accurarcy=99.92">450,609.88</td>
<td title="Character Accurarcy=99.85">1,268,902.14</td>
</tr>
<tr>
<td title="Character Accurarcy=98.32">Services (Loans, Education, Dividends, Disinvestments, etc)</td>
<td title="Character Accurarcy=99.84">301,132.00</td>
<td title="Character Accurarcy=99.66">971,701.72</td>
</tr>
<tr>
<td title="Character Accurarcy=98.55">Retail and Distribution (Incl. Food, Beverages, etc)</td>
<td title="Character Accurarcy=99.9">338,643.96</td>
<td title="Character Accurarcy=99.9">1,255,573.02</td>
</tr>
<tr>
<td title="Character Accurarcy=99.96">Electricity</td>
<td title="Character Accurarcy=99.95">9,469.56</td>
<td title="Character Accurarcy=99.28">0</td>
</tr>
<tr>
<td title="Character Accurarcy=99.73">Pharmaceuticals and Chemicals</td>
<td title="Character Accurarcy=99.82">221,947.22</td>
<td title="Character Accurarcy=99.71">770,726.31</td>
</tr>
<tr>
<td title="Character Accurarcy=99.89">Paper and Packaging</td>
<td title="Character Accurarcy=99.89">171,000.52</td>
<td title="Character Accurarcy=99.93">694,270.08</td>
</tr>
<tr>
<td title="Character Accurarcy=99.89">TOTAL</td>
<td title="Character Accurarcy=99.85">4,423,085.55</td>
<td title="Character Accurarcy=99.86">20,624,665.87</td>
</tr>
<tr>
<td title="Character Accurarcy=99.76">GRAND TOTAL AWARDED</td>
<td title="Character Accurarcy=0"> </td>
<td title="Character Accurarcy=99.76">25,047,751.42</td>
</tr>
</tbody>
</table>
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/FTiH8dXXsAA5ALw?format=jpg&amp;name=900x900"/>

Zimbabwe Dollar Falls To $290 At RBZ Forex Auction

Telecel Zimbabwe has launched new US dollar data, voice and SMS bundles which it says are for the convenience of its customers.
According to the mobile network operator (MNO), the bundles are available to the Telecel prepaid customers, as well as selected Telecel red and Telecel business customers.
Telecel Marketing Director Christopher Rubatika said that the bundles are available on *480#.
He added that the bundles are designed in different packages. People can choose daily data, WhatsApp bundles or the new Giga Data bundles for heavy users. Said Rubatika:
<blockquote>
For just 1US dollar, Telecel’s daily data bundle has 1024 Mb of data and is valid for 24hrs.
The Giga data bundle 15 that comes with 15360MB is valid for 30 days and it costs only 12USD.
</blockquote>
Telecel has also introduced voice bundles. The cost of the voice bundles ranges from a daily bundle of $0.50c that only gives 30 minutes to call, to another one ranging from $4 having 320 minutes to call. Said Rubatika:
<blockquote>
We also offer SMS bundles for just $0.50c and it has 230 SMS valid for 14 days. If one needs a monthly bundle, they can get 600 SMS for just a dollar.
</blockquote>
Telecel Chief Executive Officer Angeline Vere explained the rationale behind the introduction of the USD bundles. She said:
<blockquote>
The introduction of USD bundles is a way of cushioning our valued customers against inflation.
As is the norm, our bundles are affordable and varied offering a choice to all segments of our customer base.
</blockquote>
<h4>More: <a href="https://technomag.co.zw/telecel-launches-usd-bundles-15-offers-15g-data-voice-bundles/">TNM</a></h4>

Telecel Introduces USD Data, Voice And SMS Bundles

Strive Masiyiwa is now ranked number 89 on the United Kingdom (UK)’s rich list, up from 159 last year.
Masiyiwa’s fortune has grown to £2 billion (US$2.5 billion), growing by £913 million (US$1.14 billion) over the past 12 months, according to the Sunday Times Rich List for 2022.
The Zimbabwean-born Econet group founder is reported to be Britain’s only black billionaire.
In an interview with the Sunday Times, Masiyiwa revealed that he was 12 when he first came to the UK.
He said his parents had managed to get the money to send him to Holt School, a boys’ boarding school in Edinburgh. Masiyiwa said:
<blockquote>
I was crying. It was bitterly cold. They said, ‘You have to wear your kilt on Sunday.’
I looked at them and their bare legs, and thought, ‘This is it. I’m dead.’
</blockquote>
Masiyiwa went on to live in Birkenhead in Wirral, Merseyside, where he sat for his Advanced Levels.
He later attended Cardiff University, where he studied engineering.
In 1998, Masiyiwa launched mobile telecoms company, Econet Wireless Zimbabwe, after a protracted legal battle with authorities for a licence.
<h4>More: <a href="https://www.newzimbabwe.com/masiyiwa-shoots-to-89th-on-the-uk-rich-list-from-number-159-wealth-up-by-913m/">NewZimbabwe.com</a></h4>

Strive Masiyiwa Now Ranked 89th On The UK Rich List, Up From Number 159

President <a href="https://www.pindula.co.zw/Emmerson_Mnangagwa">Emmerson Mnangagwa</a> has said <a href="https://news.pindula.co.zw/2021/11/04/29-chiadzwa-villagers-arrested-after-clashing-with-chinese-miners/">protests</a> against Chinese and or Russian miners are being sponsored by Western governments. 
He made the remarks in his weekly column in The Sunday Mail in which he expressed disappointment in opposition political parties that were demonstrating against Chinese investments, including at Bikita Minerals. He wrote:
<blockquote>
Ironically, Bikita Minerals was only taken over by a Chinese investor earlier in the year after being owned and exploited by Western interests for many years since the resource was discovered back in colonial days.
The mine has been teetering on the brink, until this new Chinese investor came to the rescue, injecting fresh capital with which to expand operations, thereby securing jobs for Zimbabweans.
While those mining properties were in Western hands, both long before our Independence and after, not once did host communities benefit. Nor were host communities incited, mobilised and sponsored to defend their delectable resource and environment. 
The NGOs which now proliferate were nowhere in sight. Not even the false doctrine of resource or environmental justice for Africans and Africa was there.
Our struggles would have taken much shorter if such a level of agitation was there as we fought for Independence.
Sub-regionally, this Western-sponsored, anti-African form of fake nationalism has assumed both absurd and deadly dimensions.
In the sister Republic of Namibia, it extends to shutting down little Chinese retail outlets in the name of protecting Namibian consumers against “fake” Chinese products.
The underlying assumption is that the Namibian consumer is too simple and infantile to distinguish between fake and usable items for his or her gainful purchase.
</blockquote>
Chinese companies, particularly in Zimbabwe and Zambia have been accused of exploitation of local workers and land degradation. In some cases, they have been accused of <a href="https://news.pindula.co.zw/2022/02/03/mutoko-villagers-fear-eviction-to-make-way-for-chinese-miner/">evicting local people</a> to pave way for their businesses including mining. The local people <a href="https://news.pindula.co.zw/2021/11/04/29-chiadzwa-villagers-arrested-after-clashing-with-chinese-miners/">get little from deals.</a>
The companies deny the charges. 
Mnangagwa Zimbabweans to remember that the arms that liberated the country came mainly from Russia and China.
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed via <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">the App. Download it here</a></h2>

"Western Governments Sponsoring Protests Against Chinese, Russian Investors In Africa" - Mnangagwa On Protests

The government is fast-tracking the release of US$30 million worth of <a href="https://www.pindula.co.zw/Special_Drawing_Rights_(SDR)">Special Drawing Rights (SDRs)</a> from the International Monetary Fund (IMF) and other resources to insulate the local industry from an anticipated inflow of imported goods.
A fortnight ago, the Ministry of Finance and Economic Development allowed those with access to free funds to import basic commodities triggering complaints from the local companies who had been barred from accessing bank loans.
The suspension of bank loans was eventually lifted.
Industry and Commerce Minister Dr Sekai Nzenza told <a href="https://www.sundaymail.co.zw/basic-commodities-us30m-to-protect-industry">The Sunday Mail</a> that the new measures would not collapse local companies as they were short-term interventions. She said:
<blockquote>
Government is, therefore, temporarily allowing duty-free importation of these basic commodities effective May 17, 2022 to November 16, 2022 to cushion the public from these temporary challenges. This is, therefore, a balancing act; we continue supporting the local industry as well as ensuring that the consumer is not overburdened by challenges currently facing the economy.
</blockquote>
Of the <a href="https://news.pindula.co.zw/2021/08/23/zimbabwe-can-now-withdraw-us960-million-from-the-imf/">almost US$1 billion SDRs received</a> by Government from the IMF last year, Treasury has earmarked US$30 million for retooling the local industry. Minister Nzenza added:
<blockquote>
We believe that this will provide working capital for a number of companies in the country in 2022. In addition, through the National Competitiveness Commission, we are working to enhance the competitiveness of local products so that they can compete effectively with imports.
The SDR funding for retooling is at an advanced stage of being realised. This fund will assist companies in the prioritised sectors in line with the 2022 National Budget. The prioritised sectors include cotton, leather, pharmaceuticals, fertiliser, among others.
</blockquote>
The government is convinced that duty-free imports will have a limited impact on local producers because the timeframe will be limited to six months and also because most of the commodities have always been imported.
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed via <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">the App. Download it here</a></h2>

Govt Fast-tracking Release Of US$30 Million From IMF

Boustead Beef Zimbabwe claims that it assumed full control of state-run <a href="https://www.pindula.co.zw/Cold_Storage_Company">Cold Storage Company (CSC)</a> in 2019. 
Nicholas Havercroft, director of the British firm, claims in the papers that the deal also involved the acquisition of Wetblue Industries, a subsidiary of CSC for an undisclosed amount.
<a href="https://thestandard.newsday.co.zw/2022/05/22/british-investor-makes-new-claim-over-csc-boustead-says-it-took-over-full-control-of-the-beef-processor-in-2019/">The Standardbusiness reports</a> that the details are contained in a document dated April 8, 2019. Reads the document in part: 
<blockquote>
Extract of minutes of a board meeting held at Harare, Zimbabwe on Monday, 8 April 2019. It was agreed that after the acquisition of the Cold Storage Company Zimbabwe and its subsidiary Wetblue Industries Pvt Ltd by Boustead Beef Zimbabwe Pvt Ltd, that the subsidiary be removed from judicial management.
It was further resolved that the judicial manager Mr Crispen Mwete will perform the necessary procedures to assist in uplifting the judicial management order with the master of the High Court in cooperation with the legal representatives of Wetblue Industries Pvt Ltd.
</blockquote>
Havercroft would not disclose the acquisition figure in the deal when he spoke to Standardbusiness.
A statement on the website of MarillionEx, one of Havercroft’s firms, also claims that “Boustead recently acquired Africa’s largest beef production company from the Zimbabwe government (Cold Storage Company)”.
He repeats the same claim in his LinkedIn account.
Agriculture minister, <a href="https://www.pindula.co.zw/Anxious_Masuka">Anxious Masuka</a>, whose ministry administers CSC, recently said the government “remains committed to the successful resuscitation of CSC within the legal framework of the country and the agreement between Boustead Beef and government”.
Former Wetblue Industries judicial manager Crispen Mwete confirmed receiving the document adding, “but it is not true that he had acquired CSC.” He added:
<blockquote>
 I don’t know what his interpretation is. What I know is that he is supposed to have a 25-year lease.
Whether that can be called an acquisition I don’t know. It’s a genuine document. He wrote that thing.
</blockquote>
CSC corporate rescue practitioner, Vonani Majoko also confirmed seeing the document suggesting that Boustead Beef acquired CSC and Wetblue Industries adding, “but I believe it is only a way of expression.” 
Majoko added that there has been no suggestion that they acquired CSC but rather a joint venture agreement with the government.
Boustead, which has undertaken to invest about US$130 million into CSC over five years, has not injected any meaningful capital into the business.
Instead, the company has been collecting rentals from tenants but reinvesting into the business, according to Majoko.
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed via <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">the App. Download it here</a></h2>

British Firm Boustead Beef Claims It Has Assumed Full Control Of Cold Storage Company

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC), a subsidiary of the Zimbabwe Electricity Supply Authority (ZESA) has said power cuts in Granitesite, Harare are a result of a Honda Fit that drove into a transmission tower that collapsed as a result.
In a statement, seen by Pindula News, ZETDC said that the accident happened on the 20th of this month. Reads the update 
<blockquote>
<h2>ZIMBABWE ELECTRICITY TRANSMISSION &amp; DISTRIBUTION COMPANY</h2>
<h2>NOTICE ON THE ACCIDENT THAT AFFECTED THE GRANITESIDE 132KV TRANSMISSION TOWER</h2>
The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) wishes to advise its valued customers to exercise caution when approaching Boshoff road. This is due to a 133kv transmission tower that collapsed following an accident that happened when a Honda Fit AFM 9690 ran into the tower on 20th May 2022 at 23:45Hrs leading to its collapse.
Our Engineers are working round the clock to isolate the area, clear the tower from road and restore service at the earliest possible time. 
We apologize for the inconvenience caused.
Stakeholder Relations (21/05/2022)
For more information contact us on: Email : contactcentre@zetdc.co.zw Twitter : @ZetdcOfficial Facebook :@Zetdcofficial Website : www.zetdc.co.zw WhatsApp : +263719219977;0715519387; 0715519389 Short code : 704 
</blockquote>
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Honda Fit Drives Into A ZESA Transmission Tower Which Collapsed

Zimbabwe has through Statutory Instrument (SI) 103 of 2022 issued Friday removed import licences for seven commodities in an apparent move to contain prices and increase product availability.
The new measures are also aimed at restoring macroeconomic stability, easing inflationary pressures and restoring the buying power of the local currency with the main thrust being to increase the local and external competitiveness of the economy. Pindula News presents the Government Gazette below:
<blockquote>
<h2>Statutory Instrument 103 of 2022.</h2>
[CAP. 14:05 Control of Goods (Open General Import Licence) (Amendment) Notice, 2022 (No. 9)
IT is hereby notified that the Minister of Industry and Commerce has, in terms of section 4(1) of the Control of Goods (Import and Export) (Commerce) Regulations, 1974, published in Rhodesia Government Notice No. 766 of 1974, made the following notice: —
1. This notice may be cited as Control of Goods (Open General Import Licence) (Amendment) Notice, 2022 (No. 9). 
2. The Control of Goods (Open General Import Licence) (Amendment) Notice, 2018, published in Statutory Instrument 237A of 2018, is amended by the insertion of the following products to the Open General Import Licence (OGIL) — 
(xxx) Sugar; 
(xxxi) Milk powder; 
(xxxii) Infants milk formula; 
(xxxiii) Petroleum jelly; 
(xxxiv) Bath soap; 
(xxxv) Laundry bar; and 
(xxxvi) Washing powder. 
3. Sanitary and Phytosanitary (SPS) measures will remain in force. 
</blockquote>
The latest developments are being made after the government <a href="https://news.pindula.co.zw/2022/05/16/here-is-the-list-of-basic-grocery-items-to-be-imported-duty-free/">suspended import duty for 15 basic commodities</a> for the next six months.
These are:
<ul>
<li>i). Rice;</li>
<li>ii). Flour,</li>
<li>iii). Cooking Oil</li>
<li>iv). Margarine;</li>
<li>v). Salt;</li>
<li>vi). Sugar;</li>
<li>vii). Maize meal;</li>
<li>viii). Milk Powder;</li>
<li>ix). Infants Milk Formula;</li>
<li>x). Tea, whether or not flavoured;</li>
<li>xi). Petroleum Jelly;</li>
<li>xii). Toothpaste;</li>
<li>xiii). Bath Soap;</li>
<li>xiv). Laundry Bar; and</li>
<li>xv). Washing Powder.</li>
</ul>
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Zimbabwe Removes Import Licences Requirement For 7 Commodities

President Emmerson Mnangagwa has turned to Political Actors Dialogue (Polad) members to help him arrest the economic turmoil characterised by sky-rocketing prices of goods and services.
Speaking after meeting the Polad principals on Thursday at State House, Mnangagwa acknowledged that the country was in an economic mess which he blamed on “economic saboteurs”.
POLAD was set up by Mnangagwa after the disputed 2018 elections and is made up of losing presidential candidates from opposition political parties. The president pleaded:
<blockquote>
Help me to find economic saboteurs and deal with them.
We have established that some members of the business community were involved in fuelling the parallel market, thereby destabilising our local currency.
Our economy has been under attack from unscrupulous and nefarious individuals and syndicates bent on sabotaging our way of life.
</blockquote>
Some basic commodities such as cooking oil have disappeared from supermarkets while others have been priced beyond the reach of many as the local currency keeps falling in value.
NewZimbabwe.com reports that the Consumer Council of Zimbabwe this Thursday said a consumer basket for a family of five had shot to $120 000, up from $98 000 in April.
In a bid to arrest the economic decline, Mnangagwa announced a cocktail of measures such as banning banks from lending but later reversed the decree following an outcry.
Early this week, the government lifted import tariffs to allow Zimbabweans to buy groceries across the borders.
Political analysts said POLAD was an illegal platform since it was not provided for by Zimbabwean laws and urged Mnangagwa to report to Parliament rather. 
<h2>More: <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">Pindula News </a>is best enjoyed via <a class="external text" href="https://zero.pindula.co.zw/download/" rel="nofollow">the App. Download it here</a></h2>

"Help Me To Find Economic Saboteurs" - Mnangagwa Pleads With POLAD

Stanbic Bank Zimbabwe’s exclusive annual Wine, Gin &amp; Craft Beer Festival resumes this week after a two-year break caused by the COVID 19 pandemic.
The annual Wine Tasting festival, which is sponsored by Stanbic Bank and its partners, kicked off in 2018 and was scheduled to enter its third year in 2020 before being postponed owing to the restriction of gatherings caused by the menacing COVID 19.
Exhibitors at the Wine Festival, which kicks off tomorrow (Friday) and ends on Saturday, are drawn from South Africa.
The restriction on movement then made it impossible for them to come and display their products leading to its postponement over the last two years.
Stanbic Bank’s Head of Brand and Marketing, Palmer Mugavha expressed delight at hosting the event after the two-year break.
“The Festival was a permanent fixture on our calendar pre-COVID and being the biggest event of its kind in the country, it was a blow not having it over the last two years, but we understood perfectly that the COVID protocols needed to be observed. We are now all set to host the Festival of all festivals as we make up for lost time,” said Mugavha.
Mugavha said Stanbic was determined to make up for lost time by hosting a memorable Festival which should thrill wine and beer enthusiasts who had hitherto been starved of such top-line events.
This year hundreds of budding connoisseurs will come together over two days to sample the different wines, Gin and Craft Beer predominantly from Cape Town and Southern Africa.
He said the Wine Festival provided an opportunity for Stanbic Bank to entertain some of its customers and the general public who appreciate great wines through this unique event.
“We are well aware that due to the restrictions on travelling and gatherings our stakeholders have not yet had much fun in the last two years, so we are putting all stops to make sure this weekend’s event makes up for the two lost years as we seek to demonstrate our appreciation of our clients,” he said.
Wineries from Cape Town, and Gin and Craft Beer producers from the region grace the event displaying their wide range of products. 
In 2019, wine and beer enthusiasts were treated to top-shelf handcrafted beers and wines produced by some of Southern Africa’s best vintners and sommeliers at the event’s usual Queen of Hearts venue.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

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